0001144204-17-015740.txt : 20170321 0001144204-17-015740.hdr.sgml : 20170321 20170321112504 ACCESSION NUMBER: 0001144204-17-015740 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20170321 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20170321 DATE AS OF CHANGE: 20170321 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BAY BANKS OF VIRGINIA INC CENTRAL INDEX KEY: 0001034594 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] IRS NUMBER: 541838100 STATE OF INCORPORATION: VA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-22955 FILM NUMBER: 17703363 BUSINESS ADDRESS: STREET 1: 100 S MAIN STREET CITY: KILMARNICK STATE: VA ZIP: 22482 BUSINESS PHONE: 8044351171 MAIL ADDRESS: STREET 1: 100 S MAIN STREET CITY: KILMARNOCK STATE: VA ZIP: 22482 8-K 1 v462310_8k.htm FORM 8-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

 

FORM 8-K

 

 

 

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

 

Date of report (Date of earliest event reported): March 21, 2017

 

 

 

BAY BANKS OF VIRGINIA, INC.

(Exact Name of Registrant as Specified in Charter)

  

 

  

     
Virginia 0-22955 54-1838100

(State or Other Jurisdiction

of Incorporation) 

 (Commission File Number)

(IRS Employer

Identification No.) 

 

100 S. Main Street, Kilmarnock, Virginia 22482

(Address of Principal Executive Offices) (Zip Code)

 

Registrant’s telephone number, including area code: (804) 435-1171

 

N/A

(Former Name or Former Address, if Changed Since Last Report)

 

 

  

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

¨Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

 

 

Item 8.01Other Events.

 

On March 21, 2017, Bay Banks of Virginia, Inc. (the “Company”), the holding company for Bank of Lancaster and Bay Trust Company, issued a press release announcing the hiring of Eric Nost, a financial services executive with over 30 years’ experience, to serve as President of Bay Trust Company.

 

A copy of the Company’s press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

 

Item 9.01Financial Statements and Exhibits.

 

  (d)Exhibits.

 

Exhibit No.   Description
99.1   Press release, March 21, 2017.

  

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

  BAY BANKS OF VIRGINIA, INC.  
       
  By: /s/ Deborah M. Evans  
  Deborah M. Evans  
  Chief Financial Officer  
       
March 21, 2017      

 

 

 

 

EXHIBIT INDEX

 

Exhibit No.   Description
99.1   Press release, March 21, 2017.

 

 

 EX-99.1 2 v462310_ex99-1.htm EXHIBIT 99.1

Eric Nost, a top Virginia wealth advisor, joins Bay Trust and Wealth Management Group



Hiring in preparation for April merger of Bank of Lancaster and Virginia Commonwealth Bank

RICHMOND, Va., March 21, 2017 /PRNewswire/ -- Eric F. Nost, a financial services executive with over 30 years' experience, has joined Bay Trust and Wealth Management Group. Nost most recently managed a bank-owned investment firm, building it to over $400 million in assets under management.

Kilmarnock-based Bay Trust and Wealth Management Group is part of Bay Banks of Virginia, Inc. (OTCQB: BAYK), a holding company for Bank of Lancaster. The bank will merge with Petersburg-based Virginia Commonwealth Bank on April 3rd. The combined bank will have assets in excess of $800 million and will be headquartered in Richmond.

Nost previously served as President of C&F Wealth Management Corp., a subsidiary of C&F Bank of West Point, VA. In his new role, Nost will become President and CEO of a new bank subsidiary to be called Virginia Commonwealth Bank Trust and Wealth Management.

"Eric has distinguished himself as an extraordinary leader of a wealth management organization and he will share that leadership in our focus on bringing high quality wealth management services to Richmond and Central Virginia," says Randal R. Greene, Bank of Lancaster's President and Chief Executive Officer.

"I was impressed with the vision behind the merger of two great community banks and the opportunity to serve new wealth management customers in Richmond and Central Virginia," says Nost. "I have been part of a growth model such as the one envisioned by Randal Greene and I look forward to creating an extraordinary wealth management organization."

C. Frank Scott, President and Chief Executive Officer of Virginia Commonwealth Bank, shares Nost and Greene's vision for a new organization. "Providing wealth management services to businesses, charitable foundations, trusts and high net worth individuals will properly serve our region. Eric Nost has proven that his leadership can fulfill that vision."

A U.S. Navy veteran, Nost is a graduate of Virginia Military Institute, earned an MBA degree from Liberty University, and is a Certified Financial Planner. After completion of his active duty military service, Nost began his career in financial services at the former Richmond-based Wheat, First Securities, Inc. During that time, he also served as a reporter and stock market commentator for Richmond's WRIC-TV8 News.

Bank of Lancaster and Virginia Commonwealth Bank announced in November of last year an agreement on a merger of equals that will locate the headquarters of the combined company to the Richmond area in the second quarter of 2017. After the merger, the combined bank will have a total of 19 branches throughout Richmond, the Tri-Cities, and stretching from the Northern Neck, Middlesex County, to Suffolk.

CONTACT: Kylie Bransford, 1-804-435-4106, kbransford@banklanc.com